This is the list of information you will need to give
ClickForFunds.com when applying for a mortgage:
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W-2 EMPLOYED:
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SELF-EMPLOYED: (Additional)
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CREDIT:
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Additional Information:
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Divorce Decree
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Landlord Name, Address, Phone. Payment history must be obtained for credit
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Current P&L
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Residence Address - 2 years history
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Bankruptcy Discharge
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Letters of Explanation covering Gifts, Gap in employment, Bankruptcy, Credit Problems, etc. |
Last 2 Years of Business Tax Returns
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Employer Information - 2 years history
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Letters of Explanation for Slow Credit
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Check for Credit Report and Property Appraisal
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Last 3 Months of Business Bank Statements
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Last 2 years of W-2's and Tax Returns
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Leases, When Income derives from Rental Income
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Corporate/Partnership k-1 tax returns (if applicable) |
One month Paystubs, with Year-to-Date Figures
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Child Support
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Last 3 Months Bank Statements
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| Alimony |
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Name, Account Numbers for Loans and Credit Cards
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Information on all Real Estate Owned
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PRODUCT
The most drastic change in the mortgage business over the last 5 years has been the proliferation of a mind-boggling array of new products. While this can be overwhelming, it can also be advantageous. You can now customize your loan to suit your exact living and investment needs. We are able to help speed this process by focusing on the product that best serves your needs. Once identified, our Loan Consultants will recommend the best lender for your specific parameters.
PREQUALIFICATION:
You may find it helpful to be prequalified by one of our loan consultants before you start shopping for a property. This will enable you to know exactly what you can afford and what the mortgage payments will be. There is absolutely no charge for a prequalification, and it can be done in a matter of minutes over the telephone or with our on-line application.
PRE-APPROVAL:
It is also possible to get an approval on your loan before you purchase your home. This will allow you to bid for properties with a loan approval in hand. It is often possible to negotiate a better price if the seller knows that you are not only a serious buyer, but an approved one as well. From a negotiating point of view, a pre-approval is as good as cash insofar as a seller is concerned. The only condition will be that the appraisal is at or above the purchase price of the property.
FIRST TIME HOMEBUYERS:
Special programs are available for first time homebuyers with a downpayment as little as 3%. Liberal income and asset requirements make it affordable to move from renting to ownership and the opportunity to build future equity.
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